X Payments

Bitcoin

Dogecoin

Convergence

Divergence

<div class="finbold">
 <p class="paragraph">Bitcoin (BTC) is navigating the post-halving phase, facing resistance below the last all-time high. As the crypto continues to find its footing, a section of the market believes that Bitcoin is in line to embark on a post-halving <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a>, an element backed by several analysts.</p>
 <p class="paragraph">For instance, crypto trading expert <em>TradingShot </em>acknowledged in a <em>TradingView</em> post on April 22 that Bitcoin is at a critical juncture, struggling to surpass and sustainably close above its record-high resistance.</p>
 <p class="paragraph">According to the analyst, the pattern has been marked by a period of sideways consolidation, and while it might suggest bearish sentiments, history suggests otherwise.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    The world's richest YouTube boxer – Jake Paul's net worth revealed <span class="self-center text-xs text-slate-500">34 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Elon Musk’s X Payments ‘end goal’ revealed as a U.S. money transmitter <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Short alert: Dogecoin could drop below $0.05 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Ripple v. SEC court case update as of April 23, 2024 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph"><em>TradingShot’s </em>analysis noted that within Bitcoin’s historical cycles, such periods of consolidation often precede an aggressive non-stop rally, propelling the cryptocurrency to new heights. Therefore, the expert noted that Bitcoin will likely peak at $150,000 to $300,000 if the pattern repeats.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="582" src="https://cdn.thebittimes.com/images/2024/04/23/363defb2dedca2825dcb1ec1dc2266ca.webp" alt class="wp-image-171005" srcset="https://cdn.thebittimes.com/images/2024/04/23/363defb2dedca2825dcb1ec1dc2266ca.webp 1024w, https://cdn.thebittimes.com/images/2024/04/23/363defb2dedca2825dcb1ec1dc2266ca.webp 300w, https://cdn.thebittimes.com/images/2024/04/23/363defb2dedca2825dcb1ec1dc2266ca.webp 768w, https://cdn.thebittimes.com/images/2024/04/23/363defb2dedca2825dcb1ec1dc2266ca.webp 1085w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: TradingView/TradingShot</em>
  </figcaption>
 </figure>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“On any other occasion, that would be a bearish signal, an inability of the market to find enough willing buyers to push it to a new High. But with BTC’s historic cycles this has proved to be just a stepping stone before the most <a rel="noopener noreferrer nofollow" title="aggressive" href="https://thebittimes.com/tag/aggressive.html">aggressive</a> phase, the non<a rel="noopener noreferrer nofollow" title="-stop" href="https://thebittimes.com/tag/stop.html">-stop</a> <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> that drives the Cycle to its peak. (…) We estimate this to take place within the (admittedly) wide range of $150,000 – $300,000, depending on market conditions and relevant global demand from ETFs,” the expert said.&nbsp;</p>
 </blockquote>
 <h2 class="wp-block-heading" id="h-indicators-to-watch-nbsp">Indicators to watch&nbsp;</h2>
 <p class="paragraph">Based on the analysis, the key indicator signaling the potential rally is the three-week Linear Moving Average Convergence Divergence (LMACD).&nbsp;</p>
 <p class="paragraph">The expert noted that the indicator, trading within a channel-down pattern from the outset, tends to reach a critical juncture when it hits the 0.618 Fibonacci channel level. At this point, Bitcoin has historically closed above its record high and embarked on a robust <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a>.</p>
 <p class="paragraph">Furthermore, the <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> suggested that the formation of a peak characterizes the final phase of this cycle. This occurs as the LMACD approaches the channel’s upper boundary and reverses, often preceding a bearish cross.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">By press time, Bitcoin was trading at $66,283 with daily gains of almost 0.4%. On the weekly chart, BTC is up 5%.&nbsp;</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/04/23/c36d52072309f1ce9f444ae4e56f7c7f.webp" alt class="wp-image-171007" srcset="https://cdn.thebittimes.com/images/2024/04/23/c36d52072309f1ce9f444ae4e56f7c7f.webp 675w, https://cdn.thebittimes.com/images/2024/04/23/c36d52072309f1ce9f444ae4e56f7c7f.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>Bitcoin seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Overall, the current Bitcoin price movement shows the cryptocurrency’s resilience after shrugging off the fallout from geopolitical tensions. Indeed, Bitcoin is establishing itself above the $65,000 mark amid a possible cooling down of tensions in the Middle East.</p>
 <p class="paragraph">The $65,000 mark remains pivotal for market participants, as it will play a key role if the analyst’s projections are to be realized.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-s-next-price-target-ahead-of-aggressive-non-stop-rally-tbt86214.html">https://thebittimes.com/bitcoin-s-next-price-target-ahead-of-aggressive-non-stop-rally-tbt86214.html</a></p>

Bitcoin’s next price target ahead of ‘aggressive non-stop rally’

Table of Contents

TheBitTimes

Другие статьи, опубликованные 23 апр. 2024 г.

Argentina begins crypto registration rule: Navigating the new regulatory landscape

Panda Swap Price Prediction: PANDA Skyrockets 28% As Traders Rush To Buy New SOL Meme Coin Slotha...

Turnkey Raises $15M Series A to Revolutionize the Crypto User Experience

Aavegotchi 2024: New Gaming Console, NFTs, and More

Top 5 Cryptocurrencies to BUY before Bitcoin Halving

Ethereum holds $3K, for now – How can ETH’s price stay above it?

Join our free newsletter for daily crypto updates!